Niche Exit Planning Strategies
Selling a Diving Equipment and Supplies Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. As a consequence, you have a substantial stake in knowing how to receive maximum price for your diving equipment and supplies business.
Workforce Concerns
Business sellers walk a fine line when it comes to preparing their employees for a sale. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
After the Sale
The way you exit your diving equipment and supplies business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Economic Considerations
When you sell a diving equipment and supplies business, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. The truth is that perfect market conditions may never materialize. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
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